NorthStar Realty Reports 'Break-Out' Year, Q4

NEW YORK CITY-This week NorthStar Realty Finance made public its Q4 and 2006 earnings results. For the final quarter of the year, adjusted funds from operations were $21.8 million or $0.40 per share, a rise from the same quarter in 2005, which saw an AFFO of $7.6 million or $0.26 per share.

The company closed on a total of $939 million transactions; 32 financing and net lease arrangements and 51 real estate securities investments.

“Our fourth quarter 2006 financing volume represented another record for the company. Direct originations again represented a majority of our lending volume, with 73% of our fourth quarter commitments structured directly with customers, and 48% completed with repeat borrowers,” says David Hamamoto, president and CEO in a statement. “Our larger balance sheet and increased flexibility in match funding attractive investments resulting from closing CDO VIII have enabled us to make larger capital commitments to high quality owners. Our average loan commitment was $21.0 million for the fourth quarter, compared to $17.4 million in our entire loan portfolio.”